Dealmaker: Cushman & Wakefield Secures $88M Construction Loan for Connecticut Development

(Rendering of Benedict Court, courtesy of Cushman & Wakefield)

Cushman & Wakefield, New York, has arranged an $88 million construction loan on behalf of Lonicera Partners, Nimbus Properties and Benedict Capital for the development of a luxury residential community in Greenwich, Conn.

Cushman & Wakefield’s Equity, Debt & Structured Finance team, including Gideon Gil, Taylor Geiger, Cecelia Galligan and Nick Pappas, arranged the financing. The loan was provided by Santander Bank.

The property–Benedict Court–is anticipated to be completed in August 2028. When done, it will offer 120 luxury apartments, including 48 affordable units.

“Benedict Court is set to raise the bar for luxury living in Greenwich as one of the first large-scale multifamily developments in the area,” said Gil, vice chairman with Cushman & Wakefield. “As a town known for limited new development, the project will meet tremendous demand for new housing in an undersupplied market.”